Celcoin’s acquisition reinforces its Open Finance solutions’ strategy



Celcoin’s newest acquisition represents a boost in the fintech’s Open Finance development strategy, which is specialized in BaaS and financial infrastructure. With an initial investment of BRL $15 million, Celcoin has just acquired Finansystech, a startup leader in Open Finance solutions.

Marcelo França, Celcoin’s CEO, claims that the company will continue looking toward innovative companies with the objective of expanding its offering of products and services more and more.

“We want to be a one stop shop for BaaS and financial infrastructure, be it for regulated institutions, such as Banks, IPs, and SCDs, or for non-regulated companies, which can use our technology combined with our banking licenses,” says França.

With the operation involving Finansystech, Celcoin celebrates its third acquisition within the last twelve months. This is a strategic decision made by the fintech in order to consolidate its Open Finance vertical, which will go on to be led by Danillo Branco, CEO and founder of Finansystech.

Finansystech, a startup leader in Open Finance solutions, has gained notoriety in the market for its technology and innovation. Finansystech’s technological resources allow their clients to become participants in an Open Banking system, as well as enable them to initiate payments, share data, and manage permissions.

From now on, in addition to continue offering infrastructure to Banks, IPs, and SCDs that participate in Open Finance, Finansystech will also have access to Celcoin’s ITP License (Payment Transaction Initiator). This scenario enables the startup to offer solutions such as ITP as a Service, to any kind of company.

“With Celcoin, we will be able to accelerate our sales and, even still, provide Open Finance solutions for a considerably higher number of companies and financial institutions,” highlights Danillo Branco.

In the process of determining the initial payment, Celcoin estimated, before the offer, the asset value to be around BRL $85 million. This procedure is known in the market as Pre-Money Valuation. Future payments will be made based on multiples of the financial results that will be reached within the next 2 years.

Finansystech has over 40 clients, among them XP, Magalu, Sumup, Banco Mercantil, Bancoob, Banco ABC, BMP, and OpenCo. Within the official payment initiators in the market, 35% are already served by Finansystech. About 70% of the startup’s clients already utilize other Celcoin services. Finansystech, which already serves customers in Chile, is looking to enter other markets, as well.

Celcoin transacts BRL $6 billion monthly through its APIs platforms as BaaS, Pix, Open Finance, bill payment, ACH, refills, withdrawals, charges, and credit platforms. “This volume is processed monthly through more than 300 fintechs and Banks, 3,000 companies and, furthermore, retail chains that add up to more than 40 thousand physical locations. All of the aforementioned are connected through APIs within Celcoin’s financial infrastructure,” says Marcelo França, Celcoin’s CEO.

Within the first nine months of 2022, Celcoin reached a revenue of BRL $81 million, 72% above the amount registered for the same time period in 2021. The fintech has an annual revenue of BRL $122 million and, thus far, has received BRL $170 million in investments. Although Celcoin is already generating earnings, it does not dismiss new funding to finance acquisitions and investment opportunities.

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